Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Adapt Wealth Advisors LLC

Adapt Wealth Advisors LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 34.6% in the second quarter, HoldingsChannel reports. The fund owned 1,263 shares of the CRM provider’s stock after buying an additional 325 shares during the quarter. Adapt Wealth Advisors LLC’s holdings in Salesforce were worth $325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CRM. Werba Rubin Papier Wealth Management boosted its holdings in shares of Salesforce by 66.5% during the second quarter. Werba Rubin Papier Wealth Management now owns 9,720 shares of the CRM provider’s stock worth $2,499,000 after purchasing an additional 3,882 shares during the period. Waddell & Associates LLC grew its holdings in shares of Salesforce by 3.1% during the 2nd quarter. Waddell & Associates LLC now owns 1,523 shares of the CRM provider’s stock valued at $392,000 after acquiring an additional 46 shares in the last quarter. Caprock Group LLC increased its stake in shares of Salesforce by 79.7% in the second quarter. Caprock Group LLC now owns 33,571 shares of the CRM provider’s stock worth $8,631,000 after acquiring an additional 14,891 shares during the last quarter. Financial Gravity Asset Management Inc. raised its holdings in shares of Salesforce by 4.3% during the second quarter. Financial Gravity Asset Management Inc. now owns 8,348 shares of the CRM provider’s stock worth $2,147,000 after acquiring an additional 344 shares in the last quarter. Finally, Certuity LLC boosted its position in Salesforce by 7.4% during the second quarter. Certuity LLC now owns 6,910 shares of the CRM provider’s stock valued at $1,776,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.9 %

NYSE:CRM opened at $243.97 on Monday. The company has a market cap of $233.24 billion, a P/E ratio of 43.88, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The business has a 50 day moving average price of $254.52 and a two-hundred day moving average price of $269.58. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts expect that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 68,692 shares of company stock worth $17,380,857 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CRM. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. DA Davidson raised their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Oppenheimer boosted their target price on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley lifted their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Friday. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.